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Who can qualify for a Veterans' Administration home loan in the US?
Wiki User
∙ 10y ago
Veterans or Service members who have suffered a disability due to the war are eligible to apply for a home loan. There are many stipulations such as loss of limbs, blindness or severe burns.
Wiki User
∙ 10y ago
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How can you apply a mortgage through the government?
You apply through a bank or credit union. If you qualify, they will set you up for a VA (Veterans Administration) or an FHA (Federal Housing Authority) loan.
What companies offer a no down payment home loan?
War veterans may qualify for a Veterans Affairs Loan. Those who live in certain designated zones may apply for a US Department of Agriculture Rural Development Housing Loan. Both have no down payments
How does one qualify for a HUD Home Owner Loan?
To qualify for a HUD Home Owner Loan, one needs to have a clear or acceptable credit. You have to visit a bank and ask them if you qualify for the HUD Home Owner Loan, or you can contact a credit repair agency and they will tell you if your credit score will enable you to qualify for a HUD Home Owner Loan.
How would one qualify for a home loan from Calpers?
Research has shown that one can no longer qualify for a home loan from CalPERS. In December of 2010 the CalPERS Member Home Loan program was suspended.
How does one get a va home loan online?
VA Home loan can be obtained through U.S. Department of Veterans Affairs. You will need to pre-qualify and receive certificat of eligibility. The most detailed information and assistance will be available with the help of Frequently Asked Questions.
What is the definition of a VA mortgage loan?
The definition of a VA mortgage loan is a loan that is guaranteed by the Veterans Administration. The purpose of this loan is to assist veterans and their families in obtaining home financing.
What program was created for veterans?
Coinciding with the jump in demand was the development of the Veterans Administration Home Loan Guaranty Program in 1944. Using a Veterans Administration (VA) loan, war veterans were able to obtain mortgage loans with little or no down payment.
How can you apply a mortgage through the government?
You apply through a bank or credit union. If you qualify, they will set you up for a VA (Veterans Administration) or an FHA (Federal Housing Authority) loan.
How/where can I find out if I qualify for a va home loan?
http://www.homeloans.va.gov/eligibility.htm. This site details how and if you qualify for a veterans assistance home loan. Also, there are phone contact numbers on the site. freevaloan.com Any lender you get connected to will not charge any fees for your VA loan. http://www.freevaloan.com. You will get connected with a lender that charges no fees and can pre-qualify you for nothing as well.
What companies offer a no down payment home loan?
War veterans may qualify for a Veterans Affairs Loan. Those who live in certain designated zones may apply for a US Department of Agriculture Rural Development Housing Loan. Both have no down payments
How does one qualify for a HUD Home Owner Loan?
To qualify for a HUD Home Owner Loan, one needs to have a clear or acceptable credit. You have to visit a bank and ask them if you qualify for the HUD Home Owner Loan, or you can contact a credit repair agency and they will tell you if your credit score will enable you to qualify for a HUD Home Owner Loan.
Can I use a va loan for a small office space to start my small marketing business?
Loans by the Veterans' Administration are mortgage loans for the purpose of buying a house. Renting an office space does not qualify as a "mortgage." yes
How would one qualify for a home loan from Calpers?
Research has shown that one can no longer qualify for a home loan from CalPERS. In December of 2010 the CalPERS Member Home Loan program was suspended.
How does one get a va home loan online?
VA Home loan can be obtained through U.S. Department of Veterans Affairs. You will need to pre-qualify and receive certificat of eligibility. The most detailed information and assistance will be available with the help of Frequently Asked Questions.
VA Loans to Assist Veterans in Home Ownership?
Unlike the name suggests, VA (Veterans Administration) loans are not actually loans, but a program implemented by the Veteran’s Administration office to back loans issued by banks in the case of a default. The purpose of the program is to help veterans purchase homes. The VA loan program requires veterans to submit specific paperwork in order to qualify. VA loans come with other restrictions as well.Veterans who have served anytime in active duty under any branch of the armed forces have the ability to qualify for a VA home loan. Veterans must have received an honorable discharge from the military. They also must have served at least 181 days of continuous service during times of peace, or served at least 90 continuous days during times of war. Veterans who entered after September 7, 1980 or those who entered as officers after October 16, 1981 must have at least 24 months of continuous service time.Basic requirements should be met to qualify for a VA loan. Veterans must have a minimum of two years of ongoing employment history. They must also show credit worthiness which is demonstrated on a credit report. The debt to income ratio, including the loan, should be less than 41 percent. Veterans must have the ability to make payments on the loan, insurance, and other related obligations.The VA loan program does not allow the purchase of empty lots for development. The only exception is if the lot is apart of a construction loan. VA loans cannot be used for commercial property, unless the property is also used as residential. In the case that a property is used for commercial and residential purposes, the commercial portion of the property must be less than 25 percent. VA loan programs do allow joint ownership, but it only covers the veteran’s portion of the home. So for a married couple, only 50 percent is covered.There are many more requirements that must be met to qualify for a VA loan. Individuals who are interested in a VA loan should review all of the requirements. The VA loan guarantee program is dedicated to helping veterans toward home ownership.
How can one get home loans from the Veteran's Administration?
Veteran's Administration Home Loans are provided by private lenders, such as banks and mortgage companies. Veteran's Administration guarantees a portion of the loan, enabling the lender to provide you with more favorable terms. In this way, Servicemembers, Veterans, and eligible surviving spouses become homeowners.
What happens at a Foreclosure sale when it says bank vs individual and United States of America?
It sounds like you might be referring to a foreclosed home that might have a Veterans Administration loan or some other type of government-backed loan on it.
